General Question

allidoissmoke's avatar

How do you get start up capital for a new business with bad credit?

Asked by allidoissmoke (1points) September 23rd, 2010

the idea is great but i need money to start it… i already run a business but its not mine

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4 Answers

YoBob's avatar

Pretty much your only options other than traditional financing are to find a money partner or save it up yourself.

thekoukoureport's avatar

Vinnie… but the vig is way too high. Put together a sound business plan and sell a percentage to investors that may be looking for ways to diversify.

YARNLADY's avatar

Prove to the lenders/investors they get a good return on their money.

Haleth's avatar

It’s already hard to get a new business going without the burden of bad credit. If you wait until you can build better credit and some savings, your business will have a better chance. Or start small if possible… start very very small, so that you can pay the costs out of pocket without risking your livelihood (moonlighting). If your business is self-sustaining, then you can use your profits to grow it. If not, no harm done.

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